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LEASES (Tables)

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Schedule of Lease Assets and Liabilities, Weighted-Average Lease Term and Discount Rate

Lease right-of-use (ROU) assets and liabilities and the weighted-average lease terms and discount rates are as follows:

dollars in millions			Classification on the Balance Sheet			June 30 2024			December 31 2023			June 30 2023
Assets
Operating lease ROU assets						$	646.9		$	636.1		$	669.5
Accumulated amortization						(135.1)			(124.4)			(111.1)
Operating leases, net			Operating lease right-of-use assets, net			511.8			511.7			558.4
Finance lease ROU assets						59.0			62.3			91.6
Accumulated depreciation						(22.2)			(20.2)			(19.9)
Finance leases, net			Property, plant & equipment, net			36.8			42.1			71.7
Total lease assets						$	548.6		$	553.8		$	630.1
Liabilities
Current
Operating			Other current liabilities			$	47.9		$	47.3		$	47.3
Finance			Other current liabilities			11.7			12.5			20.0
Noncurrent
Operating			Noncurrent operating lease liabilities			507.5			507.4			537.5
Finance			Other noncurrent liabilities			13.6			16.6			26.3
Total lease liabilities						$	580.7		$	583.8		$	631.1
Lease Term and Discount Rate
Weighted-average remaining lease term (years)
Operating leases						19.2			19.5			19.5
Finance leases						2.4			2.5			2.6
Weighted-average discount rate
Operating leases						4.4		%	4.3		%	4.0		%
Finance leases						2.9		%	2.4		%	1.9		%

Components of Lease Expense

The components of lease expense are as follows:

						Three Months Ended June 30						Six Months Ended June 30
in millions						2024			2023			2024			2023
Finance lease cost
Depreciation of right-of-use assets						$	2.4		$	3.4		$	4.9		$	6.8
Interest on lease liabilities						0.2			0.2			0.4			0.5
Operating lease cost						18.9			19.8			37.7			39.1
Short-term lease cost 1						11.6			12.0			22.7			23.7
Variable lease cost						4.4			5.0			9.7			10.1
Sublease income						(0.8)			(1.1)			(1.6)			(1.8)
Total lease expense						$	36.7		$	39.3		$	73.8		$	78.4

1Includes the cost of leases with an initial term of one year or less (including those with terms of one month or less).

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- Definition

Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-4

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- Definition

Schedule of Lease Assets and Liabilities, Weighted-Average Lease Term and Discount Rate [Table Text Block]

+ References

No definition available.

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